Medidata Payments Wins Scrip Award for Best Sponsor-Focused Technological Development in Clinical Trials

NEW YORK--(BUSINESS WIRE)--
Medidata
(NASDAQ:MDSO) is pleased to announce that its global site payment
technology, Medidata
Payments, was recognized as the 2016 "Best Technological Development
in Clinical Trials - Sponsor Focused" by SCRIP
Intelligence ("SCRIP"), the leading news, data and intelligence
service for the global biopharmaceutical industry.

"Our judges felt that Medidata Solutions' Medidata Payments was a worthy
winner of the Best Technological Development in Clinical Trials -
Sponsor-Focused Award, which is designed to reward innovation in
platforms that improve the conduct of studies for their sponsors," said
Mike Ward, global director of content for Informa Pharma Insights
portfolio. "Medidata Payments is the first end-to-end site payment
technology that automatically calculates, triggers and disburses
payments to investigators in real time. It removes the need for
time-consuming, error-prone payment processes that can damage
relationships with study sites, thereby reducing turnover rates. Our
judges felt that the technology brought great benefits to what is seen
as a huge challenge across industry."

Presented to Medidata at the 12th
Annual Scrip Awards on November 30, 2016, in London, the award
celebrates excellence and innovation in the biopharmaceutical industry
and a continued commitment to improving healthcare on a global scale. A
panel of judges—comprised of independent, senior industry experts from
around the world—evaluated a record number of submissions across a wide
range of categories, announcing
a shortlist of finalists earlier this year.

"Payment for clinical trial work is often plagued by slow reimbursement,
calculation errors and inaccurate payments, putting financial strain on
investigative sites. Today, approximately 40 percent of sites drop out
of FDA-regulated clinical trials because of this and the high turnover
rate is driving up the cost of drug development—with onboarding rates
averaging $40,000 per new site," said April Mulroney, managing director
of Medidata Payments. "Medidata Payments provides a truly scalable
solution to these problems, helping to speed up study timelines and keep
trial sites productive and engaged. We're honored to accept this award
from SCRIP and proud that leading pharmaceutical companies and CROs are
using our Payments technology to increase efficiency and, in doing so,
power innovation that accelerates drug development and hope for
patients."

An integrated component of the industry-leading Medidata
Clinical Cloud®, Medidata Payments is the only electronic
data capture (EDC)-driven site payments solution that generates
global payment calculations in a scalable way. The solution accommodates
multiple currency payments and reporting capabilities, as well as
country-specific tax requirements, and sends timely funds directly to
sites upon completion of work.

"SCRS congratulates Medidata on their recent Scrip Award, recognizing
their innovative platform for facilitating site payments," said
Christine Pierre, president of the Society for Clinical Research Sites
(SCRS), a trade association representing the clinical research site
community. "Medidata understands the pain points sites face and has
worked collaboratively, with SCRS and life sciences companies worldwide,
to provide a solution to a top risk to site sustainability. Financial
security is required to retain experienced sites in clinical research
and bring new treatments to patients faster, which is why, on behalf of
all sites, SCRS thanks Medidata for taking on this challenge and
identifying solutions."

The Medidata Clinical Cloud® brings a new level of quality
and efficiency to clinical trials that empower our customers to make
more informed decisions earlier and faster. Our unparalleled clinical
trial data assets provide deep insights that pave the way for future
growth. The Medidata Clinical Cloud is the primary technology solution
powering clinical trials for 17 of the world's top 25 global
pharmaceutical companies, from study design and planning through
execution, management and reporting.